Week 7

 

 

 

 

As the week began the treasury department the task assigned to me was to double check and recording the purchase of  office machines & equipments and purchase of office furniture. This task was not a difficult one however it required discipline as incase we took the wrong entiries (that is an amount from a previous financial year) it would imply a total different analysis by our finance officer.

 

At the end of the week another finance officer dealing with investments sector came to give us another briefing concerning short term investment.The explaination was more on how NSSF Tanzania  invests on fixed deposits of qualified  banks in Tanzania. He explained to us (interns) on how investments was done, one of the most important point to note was to follow the criteria. One of the criteria was to analyse the financial health of banks by calculating their financial ratios of each banks that were going to be invested in. Hence for that day the officer asked us to research on some of the financial ratios that were going to be used in the analysis. On our research we searched what each ratio meant , the formula and the way the were interpretated.

 

What I grasped from the two important experience of this week was proper documentation, this is due to the fact that when we were asked to do research on financial ratios I wish I had saved somewhere one of my previous assignments. As the investigation on financial ratio would be more easier if  I had refer to my previous assignment as it was so alike to what I had done.  For that reason I planned in the future when I return for my last semster I was going to keep all my assignments for future reference.  Moreover  I absorbed the skill of working efficiently when we were recording  the purchases of office machines &machines and office furniture. In the future while in the working world I think I learned that faster is not always efficient.

 

 

Week 8

 

On the commencing of the this week we continued with the financial ratios of several banks, the finance officer gave us (interns) as sample of banks to calculate their ratios and interprate them. The  ratios were allocated to each one of us and done manually using a calculator. Unfortunately since the officers were busy with other task we never got a chance to present our interpretation of the financial ratios we had calculated. The next day I was assisting my fellow intern to his task since he has gotten an accident over the weekend thus he was unable to write.

 

In the middle of the weeek a new intern joined us in the treasury department, since I was not so busy with the assignment I was given the officer instructed me to do orientation to him. I was mostly explaining to him what the treasury department deals with and as well as on how to write the analysis report of refund. When I was explaining hime I tried my level best to not rush as it was going to be a proble in the future. I remember letting him do one of the refund, unfortunately on his writing he made some mistakes. I was worried but decided to ask some advice from another intern concerning the matter and she assisted us.

 

The next day I was assigned to assist the Senoir Finance officer on writing the official letter concernign additional warrant of funds for the year 2014/15 of some regions and districts. At first I was so happy to be assigned this task as I knew it wouldn't be hard, nonetheless this was also one of the hardest task. It was more harder because the Senior Finance Officer told me to do the work all by myself, thus I needed to be very careful when writng the letter as I was required to write to different regions and districts which were addressed to different ranks. For instance for the letter which were for district then they needed to be addressed to District Fund Officer, while the regions were addressed to regional manager.

 

In general I was able to cultivate and improve my problem solving skills as when the new intern had made some slight mistake in his refund analysis writing I remember panicking. In the future I think it would be best to try and solve the problem and not just panick with no solution. Once again I realized that woking in a team is more productive and simplifies work.  During this week I was challenged to work by myself, I accepted the challenge b trying to plan first before starting working . Thus I learned working independently  and discovered my other weaknesses and in the future I would not mind if while working I will be asked to work alone.